AIG: Time for Treasury Secretary Geithner to Clean Up the Mess

"“Why did the Fed let itself be put in the position where it became expected to act as a bankruptcy court and a supplier of capital to private insurance concerns? And why did we bail out the operating and capital deficits of AIG, deficits which suggest the same type of questionable accounting maneuvers and regulatory arbitrage as was seen in the Lehman Brothers collapse. If a bailout of AIG was better than bankruptcy, how would we know?”"